Pragma Securities, a provider of high performance algorithmic (algo) trading tools, has launched TradeBase, a newly engineered relational database module that helps provides clients real-time access to their respective FIX order messaging, per a recent Pragma statement.
In particular, TradeBase provides comprehensive access to parent and child FIX order messages, pushing greater transparency to institutional clients in a bid to help leverage more streamlined client risk management, compliance, and monitoring of respective algorithmic orders.
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TradeBase relies on real time data feeds, which caters to existing Pragma360 clients – the utility is designed to help fortify clients’ own algorithmic trading platforms via the provision of a granular level of data. This includes entries of all new child orders, amendments, and cancellations, as well as child order fills. Overall, TradeBase is compatible with equities, spot FX, and futures, among other asset classes.
According to David Mechner, CEO of Pragma Securities, in a recent statement on the launch: “Transparency is at the heart of our value proposition, and TradeBase is the next step in delivering on that value. It provides our clients convenient, real-time access to their trading data so they can incorporate it into their own processes and tools with minimal friction, and can conveniently track their order in detail from their OMS to the street.”